CIRCULAR LETTER
CL021006

The Directors

Insurance

 

Dear Sir/Madam

 

COMPLAINTS HANDLING BY INSURANCE COMPANIES

In order to encourage insurance companies to offer a    better service to policyholders and interested parties, the Financial Services Commission (“the Commission”) has issued the attached Guidelines.  

 

These Guidelines are issued after consultation with the insurance industry. Insurance companies, whether engaged in general or long term business, are henceforth required to set up and maintain an internal complaints handling mechanism to ensure that complaints are handled in a timely, ethical and efficient manner.

 

The Commission expects all insurance companies to follow the Guidelines and adopt a fully operational complaints handling mechanism within 3 months of the date of its issue, being the date of this Circular Letter.

 

These Guidelines are issued by the Commission pursuant to section 7(1)(a) of the Financial Services Development Act 2001.

 

Yours faithfully

 

 

 J. N. Meetarbhan

Chief Executive

 

Read Guidelines for Complaints Handling